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Citi Bank, Punjab Information

Jan 20, 2020 351

HISTORY:

Basically,the City Bank of New York was founded in the year 1812 by Samuel Osgood, who was the first president of the City Bank. It was used as treasury and financial service for the owner's business. Later, in 1863, Citi joined the US banking system and in 1868 became one of the largest banks in the country. After the beginning of the Federal Law, Citibank allowed itself to become the first bank to operate abroad; With offices in London, Shanghai and Calcutta.The company was named Citibank in 1976. It had managed to create its own holding company and became a subsidiary of Citicorp.

The company is one of the pioneers in the world in using technology for its services and was one of the first to use ATMs. In 1970, their ATMs could be used in seven-elevens throughout the United States. Citibank is also one of the first companies to start online services. With the World Wide Web years later, in 1991, Citibank came out with its own website. In 1995, they allowed their customers to have direct access to their accounts online.Citibank was one of the worst banks to be hit during the recession that occurred in 2008-09.

The bank revealed that it needed to cut jobs around the world to recover the lost money and stabilize again. They had to use many services to offset their losses and this included the sale of their company to Popular Inc., a Puerto Rican company. Citibank was one of the worst banks to be hit during the recession that occurred in 2008-09. The bank revealed that it needed to cut jobs around the world to recover the lost money and stabilize again. They had to use many services to offset their losses and this included selling their company to Popular Inc., a Puerto Rican company.

CEO:  vikram pandit

Citi Bank, Punjab Districts Information